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( a ) In the first problem, we will make deposits at the end of the year. In cell A 7 , type in your
a In the first problem, we will make deposits at the end of the year. In cell A type in your formula to continue the time from to and fill down the formula. In B type in your beginning balance of $ You should get as your answer since this is the spreadsheet's way of saying In cell C type in your interest formula using an interest rate of Note: remember NOT to locate A for time You should have gotten for your interest Note: means zero In cell D type in your deposit of $ Now go to E and type in your ending balance formula.
What is the answer in cell E $
b Carry your ending balance for year over to the beginning balance for year Now fill down your formulas for each of the columns. the ending balance in the account after years should be $
What is your total amount in the account after years?
What is the total amount deposited into the account during the years?
What is the total amount of interest earned on the account during the years?
c Suppose at the end of years you withdraw all the money and the government requires you to pay of your earned interest in taxes.
What would your ending balance then be at the end of years?
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